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Article 7-2
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In cases where an application is exempt from review by the review committee pursuant to the preceding Article 7-1, and where the administering department has passed a resolution within a month following receipt of application documents but where exceptional circumstances are present, it may extend the review period, based either on the requirements of the review or at the request of the applicant company, subject to receiving prior signed authorization by the president of the TWSE. Any extension of a review period granted pursuant to a request by the applicant company shall be for a month only.
Where the administering department has resolved to approve listing under the preceding paragraph, the case shall be submitted to the Board of Directors for consideration; where it has resolved to deny approval for listing, the TWSE's senior executive vice president shall convene relevant personnel to review the listing case again, and when necessary, invite the applicant company and the securities underwriter to provide explanations; if they resolve to deny approval for listing, the signed approval of the TWSE's president may be obtained and the application then rejected outright.
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